The Backdoor Roth IRA
In a typical Traditional IRA, a taxpayer makes tax deductible contributions (i.e., pre-tax contributions), the investment growth is tax deferred and the money is subject to ordinary income tax when withdrawn. High-income earners are disallowed from making pre-tax contributions to a Traditional IRA if 1) their modified adjusted gross income exceeds certain thresholds, and 2)…
Social Security Appeals – A Tale of the Two OBRA ‘93
Have you received a negative decision by the Social Security Administration for benefits involving an OBRA `93 Trust? You should be aware that you have the right to appeal a decision by the Social Security Administration that you do not agree with. For many of our clients, Supplemental Security Income (SSI) is the only financial…
Land Use Reform – Coming Soon to a Community Near You!
Based upon recent rumors emanating from Beacon Hill, the stars appear to be aligning themselves for some significant changes in the statutes regulating land use in Massachusetts. The Zoning Act (Chapter 40A), the Comprehensive Permit Law (Chapter 40B), and the Subdivision Control Law (Chapter 41) have each been the subject matter of much debate in…
Dangers of Plea Bargaining
Criminal charges can pose serious immigration consequences for the unwary. Many, including some criminal defense attorneys, do not realize that a plea arrangement can result in the deportation of not only an illegal alien, but also those aliens legally present in the U.S. with a green card. Aliens become subject to deportation if they are…
Protecting Yourself and Your Loved One Against Sweepstakes Scams and Financial Abuse
Our practice group has recently been made aware of a financial scam being perpetrated against our most vulnerable clients. The scam begins when an individual receives a letter or notice in the mail informing them that they have won a monetary prize in a sweepstakes. Before claiming their prize, the individual must submit fees and…
Advice and Guidance for the Financial Planner Advising Parents of Children with Life Long Disabilities
Parents and families providing for life time care of persons with disabilities will gain great peace of mind if they take the time to plan for the special needs family member’s future care while they still have the health, time and energy to do so. Planning is more than just having a will and a…
Love, Marriage and the Prenuptial Agreement
Spring is once again upon us, and with spring (and summer) comes another season of weddings. And while so much time, effort, and money go into planning the big day, the happy couple’s financial arrangements after the wedding are often not discussed or even contemplated before they exchange vows. Although the topic of finances, including…
Navigating the PERM Process
The employment-based green card process (also known as “PERM” or “labor certification”) enables an employer to sponsor a foreign national for permanent residence in the United States. The process requires the employer to demonstrate that there are no “US workers” available for the job being offered to the foreign national. STEP ONE – Foundation of…
Rules of Taxpayer Representation
PART I – AUDITS If you represent taxpayers before the IRS during audits, appeals, abatements or collections, there are certain “Rules” that should be followed. In order to represent your clients effectively it is critical that you are an expert in tax procedure. One procedural mistake could be detrimental to your client’s case. This article…